The term “bank holiday” has its origins in the United Kingdom, where it has been formally recognised in parliament since 1871. May Day has a very different meaning in Singapore versus the United Kingdom. While the term conjures up images of Labour Day in Singapore, May Day in the United Kingdom is analogous to the famous May bank holiday, which has its roots in agriculture and rural life.

Banks in the United Kingdom do not operate during bank holidays, such as during the spring bank holiday and the summer bank holiday.

» Read: Our guide to public holidays and long weekends of 2025

According to The Banking Act of 1970, bank holidays are not necessarily public holidays. This is despite the fact that banks are typically closed on public holidays. There is no change to the opening hours of banks on the eve of public holidays, unless that day falls on a Saturday. The exception to the rule is New Year’s Eve day, where most banks will cease operations by 11:30am. 

In the United Kingdom, bank holidays are those created under the Banking and Financial Dealings Act 1971 while public holidays are common law holidays. Most workers also get a day off on bank holidays, though it is not a statutory right.

In Singapore, public holidays is the term most frequently used here. You may see this term being used interchangeably with bank holidays even though the latter term has no special cultural meaning here. Banks observe the same public holidays as any other public or private sector company in Singapore.

According to the Association of Banks in Singapore (ABS), major banks are usually open from 9:30am-3:00pm, though some banks may open slightly earlier or extend their hours into the evening. Note that banks in Singapore are closed on the following public holidays:

» Learn more: The best air miles cards for upgrading your travels

Banks made the shift to a 5-day workweek in 2006, 2 years after the civil service did so in 2004. Gone was the alternate Saturday where you were expected to work half a day. Banks no longer credit or credit customers’ customers with cheques, perform GIRO and interbank transfers on Saturdays. Clearing of funds now takes place only on Mondays to Fridays.

Yes, Polling Day is a public holiday. The Ministry of Manpower (MOM) has instructed companies to treat 3 May as they would any other public holiday. According to the Employment Act, if a public holiday were to fall on a non-working day, employees would be entitled to either a day off or an extra day's salary in lieu of the public holiday.